Egypt amended value-added taxes on cigarettes and alcoholic drinks while introducing a levy on crude oil, the latest bid to boost revenue as part of
Under the revisions posted Thursday in the government gazette, beverages will see prices rise depending on their alcohol content, with all types also subject to a 15% hike for each of the next three years. The increase will scale back to 12% thereafter.
Cigarettes, meanwhile, will face a rise of between 5 and 8 Egyptian pounds per pack depending on type and whether they’re locally or foreign made. All kinds ...